Treasurys are getting slammed

Yields of US government debt are spiking after the
European Central Bank said it would not extend its bond-buying
program earlier on Thursday.

As of 2:15 p.m., the 10-year US Treasury yield is up around 7.5
basis points to 1.615%. Remember, as yields increase this means
prices are decreasing.

Additionally, the yield curve has steepened significantly
over the past few days. The spread between the two- and 10-year
Treasurys is at a one-month high.

The move comes after
European Central Bank head Mario Draghi said Thursday that
the central bank has maintained its timetable for
its bond-purchasing initiative, also known as quantitative
easing. Draghi said the ECB does not plan to extend its QE beyond
the current end date of March 2017. Some analysts were
expecting a possible extension of the program.